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Quiksilver still feeling headwinds

Australian iconic surfwear brand Quiksilver has warned that consumer demand for its apparel remains weak across the globe, especially in its biggest US coastal markets of California, Florida and Hawaii.

The company, which reported a narrower than expected first quarter loss of AUD5.9 million (USD5.4 million), said it faced a number of other headwinds going into the northern summer, but was also chasing growth opportunities from new brands.

Quiksilver plans to open 19 new company-owned stores in 2010 and following two years of restructuring its operations, now believes it is well placed to benefit from an eventual upswing in the economy and consumer spending.